Motorcycle Helmet Market Poised for US$ 5.3 Billion Value, Fueled by 7.1% CAGR by 2033
Motorcycle Helmet Market Poised for US$ 5.3 Billion Value, Fueled by 7.1% CAGR by 2033
According to Future Market Insights, the global motorcycle helmet market is projected to reach a remarkable valuation of US$ 2.7 billion in 2023. By the end of the projection period, it is expected to have reached a market valuation of US$ 5.3 billion, growing at a compound annual growth rate of 7.1% between 2023 and 2033.

 

Rising awareness regarding road safety is expected to drive product demand. Moreover, an increasing number of motorbike and sports bike enthusiasts coupled with rising concerns regarding road traffic injuries across the globe is expected to drive the adoption of two-wheeler helmets during the forecast period.

Road traffic accidents have become a great challenge for public authorities in terms of efforts and finding sustainable solutions for effective prevention. As per the report published by the United Nations Motorcycle Helmet Study, between 2008 and 2020, more than 3.3 million people died due to motorcycle accidents, of which about 1.4 million of these lives could be saved by making proper use of helmets.

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Technological advancements have aided market operators to launch smart helmets into the global market. Smart helmets have advanced features to help riders ride easily and efficiently by avoiding road accidents.

Some of the smart helmet’s features include GPS connectivity, voice assistance, tracking systems, cameras, Bluetooth, and Wi-Fi connectivity. Smartphones can be connected to smart helmets. This helps riders make, receive, and reject calls. Smart helmets can also help to reduce head injuries in traffic accidents. Hence, the launch of a multifunctional smart motorcycle helmet is expected to provide lucrative growth opportunities for the market.

Key Takeaways-

  • By end-user, Rider motorcycle helmet is dominating the market in the forecast period.
  • Full face segment is leading the motorcycle helmet market during the forecast period.
  • With a CAGR of 8.1%, online segment is going to dominate the market by distribution channel.
  • Asia pacific held the largest market of 67.2% in motorcycle helmet market in 2022.
  • Europe is anticipated to register the highest CAGR of 8.4% by the end of 2033.
  • Asia pacific is going to dominate the market in the upcoming years owing to the highest sales of motorcycles in the region.

Key Segments Profiled in the Motorcycle helmet market Industry Survey

Motorcycle helmet market By product:

  • Full face
  • open face
  • Off-road racing
  • Others

Motorcycle helmet market by distribution channel:

  • Online channels
  • Offline channels

Motorcycle helmet market By End-user:

  • Rider
  • Passenger

Motorcycle helmet Market By Region:

  • North America
  • Europe
  • Asia pacific
  • Latin America
  • Middle East and Africa (MEA)

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